My bias opinion as a fan yes it is worth watching. Especially episode 5.Long story short... My question now is: Is it worth watching "The Acolyte"? I understand the show has been cancelled. And that it got quite some hate. Is it worth watching after all, or don't I miss much by skipping it?
Has it an open ending, btw, so cancellation is really an argument against it?
Do you miss much by skipping it? Not really, it's 100 years before Phantom Menace but it does have some teases about setting up the prequel trilogy. However and we come to your last question it was cancelled unexpectedly and not set up as an event series so yes open ended, questions and mysteries left dangling.
Short of the Acolyte being retooled into a new series which is possible in the context of its cliffhanger but regarding its reception is less likely then there is little hope of a resolution especially considering the expanded universe content in that era is also ending. But then new Star Wars novels are once again no longer entirely canon as they have been contradicted more than once.